THE ECONOMIC HYDRA

Economic crises are lately sweeping the globe like a contagious virus. They started in the US, the strongest economy in the globe, and then crept onto most European countries. They degraded the value of the American Dollar, the European Euro, and all international currency that use them as money reserve. The crises had led to what is referred to as austerity measures; cutting down luxury expenses, but instead the cutting down was on the necessary expenses; budget cuts on major social services including education, health, unemployment benefits, and social security, increase of taxes and educational tuitions, loss of jobs leading to homelessness and poverty, loss of businesses, increase of retirement age, theft of retirement funds and attempts to tab into social security funds, among many other devastating measures.

These economic crises, we are told, were created by the governments’ inability to repay debts and interests taken to cover the alleged global wars against terror. The important questions I like to pose in this regard are: who are the debtors and where did they get the debt money from?

Throughout thousands of years a political hierarchy of very wealthy financiers had grown into power elite whose ultimate goal is global economic domination and enslavement of nations.

The dream of conquering all nations and dominating the world is an ancient one. World domination is not a silly conspiracy theory. History is full of stories of political leaders and army generals leading huge armies and waging wars across continents to build empires; Chinese, Egyptian, Babylonian, Roman, Persian empires …etc, and lately British and American empires. Israeli empire is still in its infancy stage

Ancient rulers used to endanger their lives in their war conquests to usurp other people’s riches and to enslave other nations. The power elite had discovered a better way of enslaving other nations without endangering their own lives. Through the control of money production of any country (central banking) and the entrapment of governments into debt the power elite gains influence over governmental institutions dictating their own political policies. Dept entrapment of corporations allows the power elite to manipulate the economy.

Through their wealth and political influence the power elite had established a network of privately owned central banks in many countries, whose job is to print money out of thin air, not backed by any real value of precious metals, loan them to governmental central banks through Fractional Reserve Banking system and charge them interest. The American Federal Reserve Banks, The Bank of England, the IMF, and the European Central Bank (ECB) are just few examples of these major privately owned central banks.

This network of privately owned central banks are like the multi-headed mythical hydra serpent with each head implanted in a separate country devouring its natural resources and siphoning them into its main body; the super wealthy power elite. In Greek mythology the hydra is a multi-headed serpent monster guarding the entrance to the underworld. It was said that when cutting off one of its heads two more would grow instead. As part of his twelve labors Heracles was supposed to kill the Hydra. With the help of his nephew, Lolaus, Heracles was able to kill the hydra by cauterizing the neck of each head he cut off preventing it from multiplying until he cut off all its heads.

Like the Biblical devil serpent who seduced Adam and Eve to eat from the apple tree causing them to fall into sin so that the devil can claim their souls, these central banks seduce governments into borrowing money they cannot repay later on, leading to foreclosures and the transfer of public wealth into the hands of the power elite. The power elite is not just after people’s wealth and money, they are also after power and control of life and death of the souls of people through oppression and enslavement. The character Shylock in the tale of “Merchant of Venice” embodies the very satanic spirit of the power elite. Rejecting the repayment offer of three times the debt amount he insisted on cutting off a pound of flesh from merchant Antonio as the debt payment instead. Shylock, though, could not get his pound of flesh since his contract did not specify the shedding of blood. Instead, he was charged of conspiracy to commit murder and lost all his wealth as restitution.

Fearing backlash, retribution and punishments similar to Shylock’s fate the power elite keep themselves in the shadow; unidentified and unknown. Through bribes, coercion, and blackmail they control political leaders to do their biddings while they hide behind the curtains. Their methods of stealth and manipulation are outlined in the document of “The Protocols of the Elders of Zion” as a road-map for their offspring to follow.

To build their empire the power elite need to provide money to the lower power structures to operate. With such money groups from the totally controlled social structure gain prestige and power and develop what is socially known as the middle class (the bourgeoisie), who develop their own ideologies (freedom, democracy, justice, peace) and demand a share in power. Unwilling to yield power the power elite crushes the middle class through manipulation of credit, money and stock markets, and the creation of wars. They distort religions and create antagonistic ideologies; Fascism, Nazism, Communism, Zionism, to segregate nations, to incite hatred and then start wars with false flag terror attacks such as 911. Wars destroy civilizations, collapse economies, and mainly oppress and bankrupt the middle class to revert them back into the slavery of the poor working class.

The theft and enslavement of Americans: The United States were expected to become the strongest power on earth. Thus, the power elite set their (50 -70 years) long term plans to control the American people and to manipulate them to do their bidding. During his first years of presidency Franklin D. Roosevelt outlawed the private ownership of gold and forced the American people to sell their gold to the government for the then set price of $20 per ounce paid for by tax money. Later in 1935 the price of gold was raised to $35 per ounce but only foreigners could sell their gold at this new price. The power elite, who plotted this scheme, bought gold for the $20 price, shipped it to UK, and later sold it back to US government for the $35 price. This constituted a huge loss in the American tax money.

In 1936 Fort Knox was built to house all the gold the American government had bought. Planning to allow the purchase of gold again to Americans and to raise the price of gold, the power elite had their eyes on the gold of Fort Knox. Through their financial and political influence on European governments, especially Germany, the power elite played a major role in igniting both World Wars. They also pushed to get the US involved in both wars. To finance the war efforts the Federal Reserve Board lent money to successive American administrations increasing the national debt.

In 1981 President Reagan appointed the Gold Commission to study the feasibility of returning to the gold standard. In 1982 the Commission reported that “the US treasury owns no gold at all”. The gold at Fort Knox was used as collateral against the national debt and is now owned by the Federal Reserve Board. With the price of gold very high, about $1,450 per ounce, it is suspected that all the gold at Fort Knox had been secretly transferred to Europe since 1971 then reshipped back to be sold to the American central banks at the expense of the American tax money. This is a huge profit return for the investment of the power elite on the gold alone, and a huge loss to American tax payers. It is worth noting here that the last audit/inventory of the gold at Fort Knox was conducted in 1953 when ordered by President Eisenhower. This gold had also been sold to, and regained from European central banks with huge profits in similar fashion.

The theft of American wealth by the Federal Reserve has further been exposed lately by its “Shadow Bailout” programs constituting the biggest financial scam in world history costing tax payers a roughly estimated sum of $12.3 Trillion. Instead of bailing out American banks and financial institutions the Federal Reserve had created $12.3 trillion of American money and loaned it with less than 0% interest to central banks throughout the world, which turn around and loaned this same American money to American banks for higher interest. Instead of bailing out American industries such as the failing auto industries the Federal Reserve Board used American money to bail out the competitor Japanese Toyota Auto company. It seems that there is plenty of American money to bail out the rest of the world but nothing to bail out the American middle class. This is by design. Senator Bernie Sanders expressed this eloquently in his filibuster speech on the Senate floor.

The theft and enslavement of Europeans: The largest holder of gold (two thirds of world’s gold supply) is the International Monetary Fund (IMF) and its central banks. The IMF was established by the power elite as a financial tool to allow them to manipulate the economy of the globe. Under the allegation of stabilizing and standardizing the world economy after WWII the IMF was given authority to issue fiat money backed by gold called Special Drawing Rights (SDRs) to allegedly regulate international credit policy of central banks in different countries. Member countries are encouraged to make their currency exchangeable for SDRs. The real goal of each of these central banks is to dominate the government of its country through its ability to control treasury loans, to manipulate foreign exchanges, to influence the level of economic activity of the country, and to buy the loyalty of local politicians to influence governmental policies.

The power elite wanted to focus their control over the different European central banks. So they created in January 1999 the Euro currency system that is managed and administered by the Frankfurt-based European Central Bank (ECB) and the Eurosystem composed of the central banks of the Eurozone countries. The ECB has sole authority to set monetary policy while the Eurosystem participates in printing, minting and distribution of notes and coins in all member states.

The Euro was made the official currency of what is called the Eurozone, which includes 17 member countries of the European Union (Estonia has just joined the Eurozone on January 1st 2011). The Euro is also used in other five European countries with and without formal agreements. A financial campaign was launched to sell the Euro in an attempt to encourage world countries to adopt it as a global currency. The Euro was called “a currency without a state” by Tommaso Padoa-Schioppa, who is considered the “intellectual impetus” behind the Euro and the “founding father” of the new currency. After former Federal Reserve Chairman, Alan Greenspan, expressed the opinion, in September 2007, that it is “absolutely conceivable that the Euro will replace the Dollar as reserve currency, or will be traded as an equally important reserve currency”,many world countries begged their own currency to the Euro and started using it as their reserve currency. The Euro became the second largest reserve currency and the most traded after the American Dollar.

The introduction of, and the artificial support, of the Euro had decreased the interest rate in member countries. This encouraged corporate borrowing and more importantly governmental borrowing to finance their global war on terror leading to inflation of national debts. The power elite took this opportunity to create the recent economic crises; they tightened the flow of money and called in loans. The inability of corporations and governments to repay their loans had resulted in bankruptcies, foreclosures, and economic collapse. Austerity measures, adopted by governments to allegedly repay the national debts, did not aim at cutting the luxurious expenses rather at the theft of billions of Euros of national pension reserve funds; e.g. 24 billions of Ireland’s, 15 billions of Hungary’s, and 36 billions of France’s national pension funds (Financial News).

On the top of its annual list of prediction the London based Centre for Economics and Business Research predicted that the Euro has only 20% chance of surviving for the next decade in its present form due to the hundreds of billions of Euros of debt that the member states must replace. If the Euro does not break up it would be weakened substantially towards parity with the American Dollar.

The annual report of the UN Conference on Trade and Development on the 49 least developed countries states that the prevailed model of development (designed by the power elite) to move these countries towards economic development has not worked very well. During the last 30 years the number of these least developed countries has doubled. The number of people living in extreme poverty had increased by three million per year reaching to 421 million in 2007, and the number of people living under the poverty line has doubled from the 1980s.

As long as this economic hydra is alive with its heads devouring the wealth of countries, nations will get poorer and their offspring will continue being born in slavery bondage, while the power elite get richer and more powerful.

Dr. Elias Akleh is an Arab writer from a Palestinian descent born in the town of Beit Jala. His family was first evicted from Haifa after the “Nakba” of 1948, then from Beit Jala after the “Nakseh” of 1967. He lives now in the US, and publishes his articles on the web in both English and Arabic.

The views expressed herein are the views of the author exclusively and not necessarily the views of Intifada-Palestine.com or any other I. P. authors. Notices.